Here's a breakdown:
* Pues: This is a filler word that can mean "well," "so," or "then," depending on context. It softens the transition between phrases.
* Estoy: This is the present tense of the verb "estar," which means "to be" in a temporary or current state.
* Muy: This means "very."
* Bien: This means "well" or "good."
So, the entire phrase indicates that the speaker is in a good state, physically or emotionally, at the present moment.